USDCAD Short opportunity arises on the hourly time frame!
USDCAD Pair provides a great short opportunity. See below for my idea generation thought process:
1) Longer term down trend (Daily and 4hr)
2) Trend line facing downwards
3) Price seems over extended at 100 EMA on hourly chart
4) Price has moved back below the 100 EMA on hourly chart
Could be a good probablity move for day and swings alike!
Keeping it simple!
Happy Pip Hunting!
1) Longer term down trend (Daily and 4hr)
2) Trend line facing downwards
3) Price seems over extended at 100 EMA on hourly chart
4) Price has moved back below the 100 EMA on hourly chart
Could be a good probablity move for day and swings alike!
Keeping it simple!
Happy Pip Hunting!
Trade closed: stop reached:
Looks like CAD has shown some weakness leading to my stop being hit. However structure is still to the downside. I will keep an eye on this and still look to continue a shorting opportunity based on similar analysis. I will provide an update if this is the case.
